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Former Sequoia partners close maiden venture fund at $250m

Drive Capital, a venture capital firm co-founded in 2012 by former Sequoia Capital partners Mark Kvamme and Chris Olsen, said on Tuesday that it has closed its maiden investment fund at $250m.

The firm, which is based in Columbus, Ohio and seeks to invest in start-ups based in the Midwest region of the US, has already backed a number of companies across verticals such as technology, healthcare, agriculture, consumer internet and e-commerce.